Prepare a cash budget for the following information for 6 months from Jan to June. 1. The business currently rents factory and warehouse premises. The monthly rental is $7,500 per month. Rent is paid in the month it is incurred. 2. Monthly utilities charges are budgeted for the months of Nov Mar at $4,500 per month and Apr June at $4,250 per month. Utilities are paid one month after they are incurred 3. The production supervisor's salary is budgeted at $110,000 per annum. The production supervisor is paid one month in arrears. 4. Administration wages are currently $300,000 per annum. Administration wages are paid one month in arrears. 5. The company is planning on purchasing and paying for a new piece of machinery in March for $20,000. This new piece of machinery will be used for the designer collar product line and have a useful life of 5 years. 6. The first service on the new machinery is expected in June at a cost of $450 and is paid in cash on the day. 7. Annual insurance for the business totals $9,000. Insurance is renewed on the 1st January each year and paid in February. 8. General office expenses are budgeted at $12,000 per month. Office expenses are paid in the month they are incurred. 9. Cash on hand at the end of December was $36,000. 10. Ignore taxation and GST implications